As noted earlier, figures released today by the ABS revealed that Australian wages growth fell to the slowest pace on record (1997) in the December quarter, clocking it at only 2.5% seasonally-adjusted and 2.5% trend over the year:
The news was better when adjusted for underlying inflation, however, with annual wages growing by 0.2% in the year to December in trend terms, thanks to a decline in annual underlying inflation between to September and December quarters (from 2.5% to 2.3%):
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